News

Mining Association of B.C. Welcomes Federal Investment in Canada’s Mining Sector

April 21, 2015

VANCOUVER, BC – The Mining Association of B.C. (MABC) is pleased to see continued funding for key programs and the introduction of new initiatives aimed at economic growth and skills training in today’s balanced Federal budget.

Budget 2015 proposes $34 million in funding over five years to the Canadian Environmental Assessment Agency to support consultation.  “Mining projects account for a large majority of federal environmental assessments,” said Karina Briño, President and CEO of the Mining Association of B.C.   “Effective and timely environmental assessment review decisions are key to the competitiveness of Canada as a mining jurisdiction. MABC looks forward to continuing to work with our Provincial and Federal partners towards one process for environmental assessments in British Columbia”.

With gross revenue of more than $8.5 billion and more than 10,000 direct jobs in 2013, the B.C. mining industry is a significant economic driver and job creator for the province of British Columbia.   Despite challenging market conditions, there are a number projects in various stages of the environmental assessment and mine permitting process in B.C., representing a tremendous potential for growth in the years ahead.

“We welcome the commitment in Budget 2015 to skills training programs, including funding for the Aboriginal Skills and Employment Strategies program and the Skills and Partnership Fund to help our industry build the mining workforce of tomorrow”, Briño concluded.

Budget 2015 makes further investments to support the growth of the mining industry by:

  • Extending the 15% mineral exploration tax credit for flow-through share investors for an additional year;
  • Reaffirming that the costs associated with undertaking environmental studies and community consultations required to obtain an exploration permit will be eligible for Canadian Exploration Expense treatment, and;·        
  • Renewing the commitment of $22 million over 5 years to the Targeted Geoscience Initiative, supporting the future growth of the mining industry.

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For more information:

Cailey Murphy

Director, Communications and External Affairs
604-681-4321 ext. 103